India's critical minerals strategy is evolving beyond traditional mining operations to focus on domestic supply chains and manufacturing value chains. According to reports from The Hindu BusinessLine, the National Critical Mineral Mission now spans exploration, mining, processing, recycling and downstream value addition, with the government announcing rare-earth corridors and a ₹7,280-crore rare-earth permanent-magnet manufacturing scheme. However, mineral auctions alone cannot deliver resource security, as India will remain dependent on global supply chains if it extracts minerals domestically but continues importing refined metals, battery materials, magnets and advanced components.
An army of little-known Indian and Indian-origin miners has been building mineral assets across resource-rich Africa, their strategy standing in stark contrast to state-backed overseas acquisitions through public sector giants. Most of these companies are privately owned, mid-sized businesses that have built mining assets for graphite, cobalt, lithium, tin, tantalum, tungsten and other strategic minerals in countries such as the Democratic Republic of Congo (DRC), Tanzania, Zambia and Zimbabwe. As per Business Standard, Ahmedabad-based Sakariya Mines & Minerals is developing what it says is the world's fifth-largest natural flake graphite deposit in Tanzania, containing an estimated 183 million tonnes. The company plans to invest $150-200 million in the first phase of development and eventually build processing capacity of up to 4 mt. According to Business Standard, Supriya Das, CEO of Sakariya Mines & Minerals, emphasized that India is the natural destination for the mineral, stating "Our first preference will be India. Many battery manufacturers are setting up facilities in India. If we get the right opportunity, we would like to supply Indian companies first."
Vedanta Resources Limited, established in London in 2003, demonstrates the institutional approach needed for critical minerals development. As reported by The Hindu BusinessLine, the strategic parent of the Vedanta Group has built scale through acquisitions and investments across zinc, aluminium, copper, oil and gas, iron ore, steel, nickel and ferrochrome, while providing portfolio-level strategic oversight. The company became the first Indian company to list on the London Stock Exchange and subsequently entered the FTSE 100, raising over US$35 billion from global capital markets to support acquisitions and long-gestation investments.
Vedanta's operational achievements demonstrate the potential for institutional mining models. According to the report, Hindustan Zinc has evolved into an integrated zinc, lead and silver producer and accounts for 75 per cent of India's primary zinc market. Vedanta Aluminium, comprising BALCO, now produces more than six times the aluminium manufactured at the time of acquisition. The Cairn acquisition established Vedanta as a private-sector oil and gas producer, contributing more than a quarter of India's domestic oil and gas production. These examples show how institutional approaches can scale mining operations significantly.
Indian miners operating in Africa are seeking stronger institutional support from the government to compete with Chinese companies. As per Business Standard, Hanuma Prasad Modali, managing director of Bengaluru-based Deccan Gold Mines Ltd, said India should identify these Indian diaspora miners and provide them diplomatic support. Modali noted that Chinese companies receive support through financing as well as diplomatic channels, with their embassies closely monitoring projects and intervening whenever problems arise. Addepalli Kasiviswanandham, head of business at Punia Kasese Mining, emphasized that "If India is serious about securing these critical minerals, it should engage directly with governments like Congo (DRC) and create arrangements with companies already operating there." The miners emphasize they want long-term commercial relationships with Indian manufacturers rather than seeking financial assistance from New Delhi, highlighting the need for diplomatic support to help unlock their potential. Rajib Maitra, partner at Deloitte India, confirmed that "a significant number of private sector companies in India are exploring opportunities for investments in critical mineral assets abroad, with a few investments already secured through partnership with local entities in Africa."
